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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:United States corporate disinvestment from South Africa: the financial rand and exchange control
Author:Dashman, Gina
Year:1985
Periodical:South African Yearbook of International Law
Volume:11
Pages:1-39
Language:English
Geographic terms:South Africa
United States
Subjects:monetary policy
foreign investments
Abstract:Prior to 7 February 1983, nonresident corporations conducting business in South Africa were bound to comply with South Africa's Exchange Control Regulations, promulgated in 1961. On 7 February 1983, the South African Treasury and the South African Reserve Bank made the Exchange Control Regulations inapplicable to nonresidents and abolished the financial rand. This note describes the South African investment subject to the Exchange Control Regulations and the financial-rand exchange rate. It then discusses the nature and extent of existing United States corporate investment in South Africa and follows with a description of the movement by United States corporations to disinvest their South African holdings. The note then explains how the abolition of exchange control and the financial rand changes the economic impact on a nonresident corporation which disinvests. Notes, ref.
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